Covestor Ltd Has $92,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Covestor Ltd increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 26.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362 shares of the medical equipment provider’s stock after purchasing an additional 76 shares during the quarter. Covestor Ltd’s holdings in Align Technology were worth $92,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Achmea Investment Management B.V. increased its holdings in shares of Align Technology by 3.4% during the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after buying an additional 339 shares in the last quarter. Tidal Investments LLC increased its holdings in Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Swedbank AB raised its position in Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after purchasing an additional 6,005 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Align Technology by 914.2% during the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock valued at $4,140,000 after purchasing an additional 11,382 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Align Technology by 68.0% during the first quarter. Russell Investments Group Ltd. now owns 81,250 shares of the medical equipment provider’s stock worth $26,644,000 after purchasing an additional 32,890 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Piper Sandler reduced their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Price Performance

NASDAQ ALGN opened at $215.03 on Thursday. The stock has a market capitalization of $16.05 billion, a P/E ratio of 36.69, a P/E/G ratio of 5.68 and a beta of 1.65. The business has a 50 day simple moving average of $229.04 and a 200 day simple moving average of $241.11. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. Equities analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.